# BlackRock institutional stance on Bitcoin

> Live situation record from CLSTR: https://clstr.news/situations/blackrock-institutional-stance-on-bitcoin
> Updated: 2026-09-05T07:21:54.000Z. Sources: 6. Developments: 2.

BlackRock leadership has increasingly framed Bitcoin as a legitimate institutional asset. Robbie Mitchnick, the firm’s digital assets head, suggested Bitcoin is evolving into a potential hedge against currency erosion and public debt, noting its behavior is becoming more like gold as its correlation with the Nasdaq decreases.

This sentiment aligns with a broader shift by CEO Larry Fink, who has moved from criticizing the asset in 2017 to describing it as ‘digital gold.’ BlackRock now provides institutional access via its iShares Bitcoin Trust. While the firm has focused its cryptocurrency ETF offerings on Bitcoin and Ethereum, Fink has declined to comment on the potential launch of an XRP ETF, amid speculation regarding the firm’s future involvement in other digital assets.

## Timeline

### 2026-09-05: BlackRock CEO Larry Fink shifts stance on Bitcoin and XRP

BlackRock CEO Larry Fink has transitioned from a Bitcoin critic to a supporter, calling it ‘digital gold’ as the firm expands its institutional crypto offerings, though he declined to comment on a potential XRP

2 sources. https://clstr.news/cluster/blackrock-ceo-larry-fink-shifts-stance-on-bitcoin-and-xrp

### 2026-08-29: BlackRock official compares Bitcoin's long-term role to gold

BlackRock's Robbie Mitchnick views Bitcoin as an emerging monetary alternative similar to gold, even as the asset faces short-term volatility and struggles to maintain the $80,000 price level.

4 sources. https://clstr.news/cluster/blackrock-official-compares-bitcoins-long-term-role-to-gold

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Cite as: BlackRock institutional stance on Bitcoin. CLSTR, https://clstr.news/situations/blackrock-institutional-stance-on-bitcoin